Imagine this scenario: You have done your homework and been able to identify a position in the market you would like to get into. You need to get in at the right time to optimize the profits that will shortly become available, and you want the entry and exit of the position at a particular stock price.

You call your broker, and place this awesome, huge profit potential trade, and hang up dreaming of the growth you will capture.

As it turns out, because of a word or two you may have misspoke, the huge profits have dwindled next to nothing because you didn't communicate exactly what you needed to.

Vision Investing is here for you, to make every facet as successful as possible as the professional Wall Street Investors. Here below are some of what you would need to say to your broker, for various strategies.

I would like to buy to open (# of shares) of (stock name or ticker symbol) at (desired price) or better [lower], this is going to be a (type of order, i.e. day, GTC)

Closing a long stock position

I would like to sell to close (# of shares) of (stock name or ticker symbol) at (desired price) or better [higher], this is going to be a (type of order, i.e. day, GTC)

In each of our long stock recommendations we include 2 profit targets. At the first target we will close 1/2 the position, at the second target we will close the remaining 1/2.

If placing a market order substitute "at the market" in place of the desired price. We don't recommend using market orders except to get out of a losing trade that has moved through the stop loss price and is rapidly moving against you.

Shorting stock

I would like to sell short (# of shares) of (stock name or ticker symbol) at (desired price) or better [higher], this is going to be a (type of order, i.e. day, GTC) (remember, you must short on an uptick)

Covering a short position

I would like to buy to cover (# of shares) of (stock name or ticker symbol) at (desired price) or better [lower], this is going to be a (type of order, i.e. day, GTC)

In each of our short stock recommendations we include 2 profit targets. At the first target we will close 1/2 the position, at the second target we will close the remaining 1/2.

If placing a market order substitute "at the market" in place of the desired price. We don't recommend using market orders except to get out of a losing trade that has moved through the stop loss price and is rapidly moving against you.

Buying a call or put option

I would like to buy to open (# of contracts) of the (month & strike price) (call or put) option at (desired price) or better [lower], this is going to be a (type of order, i.e. day, GTC)

Selling to close a long call or put

I would like to sell to close (# of contracts) of the (month & strike price) (call or put) option at (desired price) or better [higher], this is going to be a (type of order, i.e. day, GTC)

Buying a debit spread or selling a credit spread

I would like to buy to open (# of contracts) of the (month & strike price) (call or put) option, I would also like to sell to open (# of contracts) of the (month & strike price) (call or put) option for a net (debit/credit) of (desired price) or better [lower in a debit spread, higher in a credit spread], this is going to be a (type of order, i.e. day, GTC)

• If entering a bull call spread (debit spread), you are going to buy the lower strike call option and sell the higher strike call option.
• If entering a bear put spread (debit spread), you are going to buy the higher strike put option and sell the lower strike put option.
• If entering a bull put spread (credit spread), you are going to buy the lower strike put option and sell the higher strike put option.
• If entering a bear call spread (credit spread), you are going to buy the higher strike call option and sell the lower strike call option.

When entering both debit and credit spreads, even though the spread will be entered simultaneously as one order, most brokers are going to require that you put the buy side of the order first in the order entry sequence.

Closing a debit spread or covering a credit spread

I would like to buy to close (# of contracts) of the (month & strike price) (call or put) option, I would also like to sell to close (# of contracts) of the (month & strike price) (call or put) option for a net (debit/credit) of (desired price) or better [lower in credit spread, higher in a debit spread], this is going to be a (type of order, i.e. day, GTC)

• If closing a bull call spread (debit spread), you are going to buy the higher strike call option and sell the lower strike call option.
• If closing a bear put spread (debit spread), you are going to buy the lower strike put option and sell the higher strike put option.
• If covering a bull put spread (credit spread), you are going to buy the higher strike put option and sell the lower strike put option.
• If covering a bear call spread (credit spread), you are going to buy the lower strike call option and sell the higher strike call option.

When closing a debit spread or covering a credit spread, even though the spread will be closed simultaneously as one order, most brokers are going to require that you put the buy (to cover) side of the order first in the order entry sequence.

For directional option or spread trades we are only going to invest the maximum allowable risk for any given trade. This should be between 1% and 3% depending on how aggressive you want to be. Rather than have a stop loss in place we will hold the trade until either our profit objective is met or expiration since we cannot lose more than the maximum allowable risk. This is the way we prefer to trade options and spreads, however, one may also choose to set up the trade so that the risk is a certain percentage of the option premium or spread. The percent should equal the maximum allowable risk per trade. For example, if you put $2,000 into an option or spread trade, you might close the trade when the bid price reaches $1,000. This way you are still only risking $1,000 or 1% of a 100K account.